Maya Robertson
Elon Musk mocked Twitter’s preparations to sue and force him to complete his $44 billion takeover of the company following his move to pull out of the deal.
Musk posted a meme late Sunday that featured images of him laughing along with captions describing a version of events from the past few months, and this was his first public response since he announced his intention to back out of the offer.
— Elon Musk (@elonmusk) July 11, 2022
Following Elon Musk’s disclosure to securities regulators Friday that he is seeking to abandon his takeover deal, Twitter has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP to sue and force him to complete his $44 billion acquisition of the company.
In April, Elon Musk made an offer to buy Twitter, saying the company has extraordinary potential and he is the one who will unlock it. In mid-May Musk announced that his $44 billion Twitter buyout was “temporarily on hold” pending further details on the number of spam accounts on the platform. And in early June, Musk threatened to end the deal, accusing the company of not providing information about spam and fake accounts.
Twitter fell 6.5% in recent premarket trading Monday to $34.41, putting shares on pace for their biggest drop in nearly two months.
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